JAKARTA (Yosefardi) – Shares of PT Industri Jamu Dan Farmasi Sido Muncul Tbk (SIDO), producing herbal medicine and engaged in pharmacy industry, jumped 19% to Rp690 on its trading debut this morning. Composite index of the Indonesia Stock Exchange (IDX) also gained 0.45% at 4201.
Sido Muncul listed 15 billion shares on IDX and had offered 1.5 billion shares through the initial public offering (IPO), representing 10% of its totaled issued and paid-up shares capital, priced at Rp580 per share, raised total proceeds of Rp870 billion.
SIDO booked net profit of Rp202.2 billion in first seven months of this year on revenue of Rp1.39 trillion. Herbal medicines contributed revenue of Rp568.58 billion and energy drinks contributed Rp602.99 billion.
In 2012, it booked net profit of Rp387.54 billion on revenue of Rp2.39 trillion. Its assets totaled Rp1.91 trillion while liability amounted Rp326.19 billion. The IPO proceeds will be used for working capital (56%), investment (42%), and IT development (2%).